Norway's giant pension fund is now worth over $1 trillion.

[G_j]

http://money.cnn.com/2017/09/19/investing/norway-pension-fund-trillion-dollars/index.html

This pension fund is now worth $1,000,000,000,000

By Ivana Kottasová September 19, 2017: 6:44 AM ET

Norway's giant pension fund is now worth over $1 trillion. Yes, 1 followed by 12 zeros.

The fund's managers announced Tuesday that currency shifts had helped push its value above $1 trillion for the first time.

"The growth in the fund's market value has been stunning," fund chief Yngve Slyngstad said in a statement. "I don't think anyone expected the fund to ever reach $1 trillion when the first transfer of oil revenue was made in May 1996."

For comparison: $1 trillion is roughly the size of Mexico's economy.

Norway is a major oil producer, and it has plowed its energy earnings into the fund in order to fund pensions and other government expenses.

The fund is among the world's biggest investors in stocks, owning $667 billion worth of shares in over 9,000 companies globally. It owns on average 1.3% of all listed companies worldwide.


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[haveahart]

1. This is the true "art of the deal" when it is designed to help many.

[uponit7771]

2. What happens when the greedy bastards are not allowed to touch money

[SergeStorms]

3. A country that truly cares.......

about every one of it's citizens, not just the wealthy elite. And people tell me the United States is the richest country on earth. Really. How can we be the richest country on earth when so many have little or nothing?

[PatrickforO]

5. Nice post. I've been thinking about this.

It seems to me that we should maybe redefine what 'rich' means.

It isn't a few being really rich, and the rest struggling.

It is everyone having enough. That's 'rich.'

Funny how that works. Every shitty thing that has ever happened has to do with selfishness or greed.

[PatrickforO]

4. Well, you know what they say...

A thousand Swedes crept through the weeds,
Pursued by one Norwegian.

LOL

That said, the Norwegians (and Swedes, and Danes, and Dutch) take CARE of their people. That's the priority, not wars.

As opposed to Cheetoh at the UN.

Sigh.

[NobodyHere]

6. It would be nice if we had that

Instead of a $500,000,000,000 dollar deficit and a $20,000,000,000,000 debt. We could be getting interest. Instead interest will soon be our biggest expense.

[not fooled]

9. But 'Murica has enabled

a few families to get fabulously wealthy. That's way more important.

[Cryptoad]

7. Damn Socialist showing off!

[Equinox Moon]

8. Thanks for the post.

Nice to see how it can be done.

Hey! We are all in this together!
Let's act like it. Norway has.